Risk managers are facing geo-political fragility that has the potential to trigger shockwaves to global stability and business confidence, says Control Risks
Businesses in 2018 will face profound uncertainty because of the increased threat of large-scale cyber attacks and the personalised and assertive style of national leaders.
Digitalisation and the flow of information is a driver of economic growth, but with it brings an increased risk of digital disruption with more powerful and targeted attacks likely in 2018, particularly targeting national and critical infrastructure systems.
Control Risks, chief executive officer, Richard Fenning, said: “Despite the most positive economic outlook since the end of the financial crisis, we are entering a year of geo-political fragility that has the potential to trigger shockwaves to global stability and business confidence.
“With the threat of the next world order being imposed, not agreed, global dynamics and perceptions of risk are being shaped by a more robust, personalised and unpredictable style of political leadership in many parts of the world, making business planning very difficult.
“Trying to understand the motivations of global leaders and the potential impact of their actions will be critical to making the right strategic business decisions.”
“These global risks, coupled with digitally fuelled populism and governments in Asia Pacific using the internet as a tool of social control, mean businesses are set to face some of the toughest issues the world has faced in a while,” Fenning continues.